Sentences with phrase «state rainy day fund»

Gov. Jerry Brown won't have key education groups helping him make the case to voters for a bigger and more restrictive state rainy day fund.

While there is currently no consensus on how large a state rainy day fund should aim to be, bonding agencies and state budget officials generally target 5 percent as the appropriate amount.

Not exact matches

The state now requires that capital gains tax revenue feed into a rainy day fund.

They were able to pare the budget deficit down to $ 3.2 billion, but even that amount would nearly deplete the state's rainy day fund.

For state and local governments, the statutory requirements for balanced budgets meant that fiscal policies turned restrictive relatively quickly once budget surpluses and rainy day funds were exhausted, and this was only temporarily mitigated by federal transfers to the states as part of the initial fiscal stimulus program.

Texas» rainy - day fund helps give it more leeway than many states.

In a letter to Kevin Lembo, the state comptroller, Barnes noted that the state still remains «significantly short» of a rainy day fund target of 15 percent of the overall state budget.

The state's comptroller is siding with Governor Cuomo over concerns that federal health care cuts will damage New York's budget, but he says the governor's budget experts should have saved more money in rainy day funds.

[10][14] Key parts of his plans are for «governors to identify plans to erase budget deficits in future years,» to cap state debt, and to require excess surplusses to be deposited into the «rainy day fund».

State fiscal analysts said improving tax revenues are helping push Connecticut's rainy day fund to a 10 - year high of $ 1.5 billion, fueled by hedge fund profits and income tax payments by the state's wealthiest residState fiscal analysts said improving tax revenues are helping push Connecticut's rainy day fund to a 10 - year high of $ 1.5 billion, fueled by hedge fund profits and income tax payments by the state's wealthiest residstate's wealthiest residents.

Much of Connecticut's rainy day fund depends of a volatile source — the sometimes higher than expected revenues generated by corporations and the state's wealthiest residents, who make money on Wall Street, and file quarterly returns, Lembo said.

Governor Jerry Brown delivered his annual State of the State address on Wednesday morning, in which he highlighted California's comeback and said he'll push the legislature to adopt his plan for a rainy day fund.

At the same time, DiNapoli says the state should bolster its reserve funds, also known as «rainy day» funds in order to better prepare for the economic downturn.

Comptroller Thomas DiNapoli released a report Monday showing the fiscal year - end general fund balance of $ 2.2 billion was $ 432 million more than projected in February and the state put money in a «rainy day fund» for the first time since 2008.

House Minority Leader Themis Klarides says the Republican plan is to have the money split with $ 300 million going to pay down state employee retirement obligations, $ 300 million to the state's teacher retirement fund, and $ 300 million to the rainy day fund.

Like ours, it keeps the rainy day fund intact and provides savings through a state employee retirement plan.

In a report issued today focusing on the recession's impact on the budgets of New York and New Jersey, the Fed branch also recommended the states create «rainy day» funds to protect against future revenue gaps, plan in advance for spending cuts and reduce reliance on personal income taxes, which are affected by changes in the economy.

In addition, the Senate Democrats dropped plans to use $ 35 million from the state's rainy day fund to plug the budget deficit.

Local governments have struggled in the wake of the recession with depleted rainy day funds and a cap on property tax increases, while state aid hasn't increased.

The New York State Comptroller is out with an audit that shows the city of Troy's finances are in dire straits, thanks to poor budgeting, the overuse of rainy day funds to fund day - to - day operations, and insufficient funding for capital costs.

New York state's comptroller is siding with Governor Andrew Cuomo over concerns that federal health care cuts will damage New York's budget, but he says the governor's budget experts should have saved more money in rainy day funds.

The rainy - day fund, which is designed for fiscal emergencies, suddenly grew to about $ 875 million under the expiration of a federal law that prompted major hedge funds in Fairfield County to pour tax money into state coffers before the end of 2017.

If lawmakers take no action to close the projected deficit of nearly $ 200 million in the current fiscal year, then the state's rainy - day fund could be used to close the gap.

In a report released Wednesday, DiNapoli recommended eliminating discretionary lump - sum appropriations, restricting «backdoor spending» by public authorities, and requiring deposits into the state's rainy - day fund when the state has a cash surplus, among other things.

He said that as of last Thursday, state officials were estimating about $ 1.5 billion had already been set aside for the state's rainy day fund.

The delay of $ 750 million will be combined with short - term borrowing of $ 250 million from a series of other state accounts — including the so - called «rainy - day fund,» a step that critics have previously said Paterson should take to avert budget cuts.

And Republicans have opposed efforts to use money from the state's rainy day fund to close a shortfall, a tactic the Democrats» plan relies on.

The governor's move is highly unusual since he's dipping into the state's rainy - day fund to pay for research efforts as opposed to paying for costs directly attributable to a natural disaster or emergency.

An audit issued by State Comptroller Thomas DiNapoli finds that unrealistic budgets, insufficient revenues, and the lack of rainy day funds left the Town of Fishkill in fiscal stress.

State Sen. Toby Stavisky (D - Whitestone) says it is time to release the SUNY rainy day funds.

Gov. Fordice argued that the loan funds should not come out of the state's «rainy day» fund, saying that money should be reserved for statewide emergencies, not used for local crises.

The bad news: States face pressure to meet increasing health - care costs and to replenish rainy - day and other funds legislatures tapped in recent years.

Special session update: The Advocate reports Republican leaders in the House have moved forward with a deficit - closing plan that would make deeper cuts than Gov. John Bel Edwards has called for while relying less on the state's rainy day fund.

Good Morning Special session update: The Advocate reports Republican leaders in the House have moved forward with a deficit - closing plan that would make deeper cuts than Gov. John Bel Edwards has called for while relying less on the state's rainy day fund.

He proposes making a one - time supplemental deposit of $ 3.5 billion to the state's rainy day fund, in addition to the $ 1.5 billion required by Proposition 2 (2014).

Voter support for Proposition 2, a new version of a state budget rainy day fund, is increasing but is still shy of the majority backing that Gov. Jerry Brown will need to pass his signature ballot measure, according to a new poll.

Along with re-electing Gov. Jerry Brown on Tuesday, voters awarded him one of his campaign priorities: strengthening the state budget's rainy day fund.

The main takeaway from the $ 190 billion annual spending plan — $ 132 billion in day - to - day general fund spending and the rest in special fund and bond fund spending — is that it sets aside more money than ever for the state's rainy - day fund instead of expanding a range of government services.

As mayor of San Francisco, Newsom set up a rainy - day fund that prevented teacher layoffs during the recession and state budget cuts.

No state has all of its employee benefit plans funded at an acceptable earnings rate, as well as rainy day funds, highway, funds, etc $ $ Nov 12, 2013